Bitcoin Weathers Overnight Sell-Off, Looks Set to Test $12K

Bitcoin (BTC) has recovered 38 percent of an overnight sell-off and remains on track to test the long-term inflection point above $12,000, technical charts indicate.

The cryptocurrency ran into offers above $11,700 yesterday, according to CoinDesk's Bitcoin Price Index (BPI) and fell to $10,691.43 at 04:29 UTC. As of writing, the BPI is back at $11,162 - down 1.5 percent for the last 24 hours.